Whether we’re talking about socks or stocks, I like buying quality merchandise when it is marked down.
Interpretation
Investing in quality items at a discounted price is a smart financial strategy.
Warren Buffett, known for his investment wisdom, suggests that whether purchasing something trivial like socks or significant like stocks, the principle remains the same: it is wise to seek high-quality products that are available at a lower price. This reflects a broader lesson in personal finance where quality and value should drive purchasing decisions, rather than superficial aspects.
In practice
This quote could be used in a financial literacy workshop to emphasize the importance of investing wisely.
I have no views as to where it will be, but the one thing I can tell you is it won't do anything between now and then except look at you. Whereas, you know, Coca-Cola (KO) will be making money, and I think Wells Fargo (WFC) will be making a lot of money and there will be a lot - and it's a lot - it's a lot better to have a goose that keeps laying eggs than a goose that just sits there and eats insurance and storage and a few things like that.
If the world couldn't see your results, would you rather be thought of as the world's greatest investor but in reality have the world's worst record? Or be thought of as the world's worst investor when you were actually the best?
Cash never makes us happy, but it's better to have the money burning a hole in Berkshire's pocket than resting comfortably in someone else's.
I think you should read everything you can. In my case, by the age of 10, I'd read every book in the Omaha public library about investing, some twice. _x000D_ You need to fill your mind with various competing thoughts and decide which make sense.
The most common cause of low prices is pessimism - some times pervasive, some times specific to a company or industry. We want to do business in such an environment, not because we like pessimism but because we like the prices it produces. It's optimism that is the enemy of the rational buyer.
One’s objective should be to get it right, get it quick, get it out and get it over. Your problem won’t improve with age.
You only hit a straight ball by accident. The ball is going to move right or left every time you hit it, so you had better make it go one way or the other.
You've achieved success in your field when you don't know whether what you're doing is work or play.
Conditioning is essential to success in basketball.
Anyone who has played the game professionally, you're always taught that the ball is the most important, most precious thing, so when the ball hits the ground, it's always a mad scramble. It's amazing how many times there is a fumble, and the person who recovers it initially doesn't walk away with the ball.
It all comes back to the basics. Serve customers the best-tasting food at a good value in a clean, comfortable restaurant, and they'll keep coming back.
The true measure of success for the U.N. is not how much we promise, but how much we deliver for those who need us most.
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